2 Harmony Ln · Milford, CT 06460

$189,900

2 bd · 1.0 ba · 728 sqft · Manufactured public records · 16 Days on market

Built 2005

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +29.0/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• Schools +4.6/10.0
• Rent growth +3.0/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Why pay more? For a fraction of the price of a new mobile home in the same community you can turn this diamond in the rough into EXACTLY what you want! This mobile home nestled on a quiet street in the Ryder Woods community is perfect for easy one level living. The small cul de sac backs up to wooded land which will never be developed. Enjoy the light and bright open concept kitchen/living area with vaulted ceilings. Just around the corner you will find the laundry area and large bathroom. The bedrooms are each generously sized with ample closet space and conveniently located on opposite ends of the home for additional privacy. A little TLC will go a long way to make this the home you've been looking for. The large shed offers additional storage space. This is an As Is/Where Is Sale and any inspections are for Informational Purposes only.

Key facts

• Quartz countertops
• Brand new steps
• White cabinets

Tags

• QUARTZ COUNTERTOPS
• WHITE CABINETS
• LUXURY VINYL FLOORING
• BRAND NEW STEPS
• BRAND NEW DOORS
• NEW TRIM

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $190k.

Deal economics

• At list price, monthly cash flow is $582 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $187k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Milford School District (urban): math 44% / reading 58% proficiency, ranked #73 of 153 in CT (top 48%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 15% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+2.2%/yr); 175 active listings in the ZIP; solid renter incomes; 1,059 units permitted in South Central Connecticut Planning Region in 2024 (779 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 2.2% rent growth), your $53k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $100k; list at $190k implies a 90% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; major wind risk, 62% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $187,051 (1.5% below list)

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
4. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
5. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.22% ✓
• Cap rate: 10.39%
• Cash-on-cash: 14.63%
• DSCR: 1.65
• GRM: 6.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.19% rent growth · sell at horizon

5-year hold

• IRR: 2.2%
• Equity multiple: 1.08×
• Total profit: $4,403
• Equity at exit: $28,315

10-year hold

• IRR: 11.0%
• Equity multiple: 1.83×
• Total profit: $43,961
• Equity at exit: $16,419

Cash invested: $53,172 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 27 Tenant-Leaning
• State Connecticut: 27 Tenant-Leaning · D+7
• County: — inherits STATE
• City: — inherits STATE

Strong tenant statutes; rent commissions in some towns; courts slow especially in cities.

Methodology + full state rankings →

ZIP-level market 06460

• Rents YoY: 2.2%
• Active inventory: 175
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $2,323 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$112 /mo · $1,346/yr
• Insurance: −$79
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$488
• Net cashflow: $582

Break-even live

Break-even rent $1,587

Max offer price $189,900

Occupancy floor 70%

Sensitivity live

Price	-10% $689	-5% $636	+0% $582	+5% $528	+10% $474
Rent	-10% $398	-5% $490	+0% $582	+5% $674	+10% $765
Rate	-1.0pp $677	-0.5pp $630	base $582	+0.5pp $533	+1.0pp $483

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-18
   days on market $189,900 Active 16 DOM
2. 2026-06-17
   days on market $189,900 Active 15 DOM
3. 2026-06-16
   pricedays on market $189,900 Active 14 DOM
4. 2026-06-15
   days on market $192,000 Active 13 DOM
5. 2026-06-14
   days on market $192,000 Active 11 DOM
6. 2026-06-13
   days on market $192,000 Active 10 DOM
7. 2026-06-10
   days on market $192,000 Active 8 DOM
8. 2026-06-09
   days on market $192,000 Active 7 DOM
9. 2026-06-08
   days on market $192,000 Active 6 DOM
10. 2026-06-07
    days on market $192,000 Active 5 DOM
11. 2026-06-03
    remarks 645-char remark
12. 2026-06-03
    listed $192,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CT · Partial reset (capped growth)

• Current annual tax: $1,346 · $112/mo
• Projected year-2 tax: $2,705 · $225/mo
• Expected delta: +$1,359/yr (+$113/mo · 101.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥98°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 62% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,879
• − Mortgage interest: −$10,637
• − Property taxes: −$1,346
• − Insurance: −$1,747
• − Repairs & maintenance: −$2,230
• − Management: −$2,230
• − Depreciation: −$5,524
• Taxable income: $4,164
• Est. tax owed @ 24.0%: −$999
• After-tax cash flow: $5,982/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Milford School District
• NCES district ID: 0902520
• Math proficiency: 44% ▼ -14.00%
• Reading proficiency: 58% ▼ -11.00%
• Median HH income: $80,198
• Composite: 46.45/100
• National rank: #2444
• State rank: #73 of 153 in CT

Livability — Milford

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Milford city (balance), CT
• County: New Haven County · 688,236 people
• City population: 52,684
• Metro: New Haven-Milford, CT
• Population (ZIP): 37,649
• Household income: $104,360
• Rent vs Own: 28.8% rent · 71.2% own
• Severe rent burden: 1254.0

Population outlook (South Central Connecticut County) Hauer SSP2

• By 2040: 608,362

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Hispanic / Latino 8% Two or more races 7% Asian 3% Black 3%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Romanian 6% Lithuanian 4% Scotch-Irish 2%
• Foreign-born: 10% · Canada, China, Jamaica
• Languages at home: 88% English-only · Spanish 4% Other Indo-European 3% Other Asian/Pacific 1%

Political lean MEDSL · South Central Connecticut

• 2024 margin: Strong D (+20.1) · D 59.0% · R 38.9% · Other 2.1%
• All cycles: 2024: D+20.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -396.40%
• Current HPI: 287.7738
• Rent YoY: ▲ 2.19%
• Metro: New Haven-Milford, CT
• State GDP YoY: ▲ 1.06%
• F500 in state: 38

Industry mix (Fortune 500 HQ in CT)

Industry	F500 HQs	Revenue
▸Industrial Machinery	4	$38B
▸Insurance	3	$71B
▸Financial Services	2	$25B
▸Transportation / Logistics	2	$18B
▸Healthcare	1	$247B
▸Telecommunications	1	$55B

Price history

+174.7% since first listed

8 events — show timeline

• 2026-06-03 Listed $192,000 FSBO.com
• 2024-05-10 Sold (MLS) $100,000 Smart MLS
• 2024-04-27 Pending — Smart MLS
• 2024-04-04 Contingent — Smart MLS
• 2024-03-31 Listed $110,000 Smart MLS
• 2017-10-27 Sold (MLS) $69,900 Smart MLS
• 2017-10-23 Listing Removed — Smart MLS
• 2017-09-01 Listed $69,900 Smart MLS

Property tax history

+0.6%/yr

Latest (2023): $1,346 · +2.0% YoY. Source: county tax records.